In order to use Rate Insights to your advantage, you have to define your five main competitors first.To Define Competitors:
- Click on Settings at the top right of this page
- Select Account Settings
- Choose Define Competitors from the navigation menu on the left to access the page where you can begin creating your set
A red dot on the Notification button, located at the top right of the Rate Insights page, will appear when your or a competitor’s rate changes on an OTA. You’ll see which competitor made the change, when it occurred and on which booking site.How can I forecast rates for the next 180 days?
You can navigate through the calendar and choose to view room rates by clicking on tabs labelled Day, Week, or Month above the graph. You can also look back on the last 180 days to see how your and your competitors’ rates have developed.Which room types can I compare with my competitors’?
- Single room
- Double room, including suites, that sleeps two guests
- Family room that sleeps three or more guests
Click on the Search volume button located above the graph to examine the demand for hotels in your area. You can see the development on the graph for a day, week, or month.
A list of events and their corresponding dates will also appear below the graph, with bars indicating the level of search volume during that time frame. Each of the five bars represents a 20% increase in demand.Can I adjust the pricing data that appear on the graph?
You can review specific pricing information on the graph by selecting:
- Individual competitors you want to benchmark your rates against
- A room type to compare its rate to that of your selected competitors’
- OTAs, in order to view the advertised rates of a room type
- The option to include or exclude breakfast in room rates